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Crown Castle (CCI) closed the most recent trading day at $175.84, moving +1.52% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.53%. Elsewhere, the Dow lost 0.29%, while the tech-heavy Nasdaq lost 0.1%.
Prior to today's trading, shares of the operator of wireless communications towers had lost 5.87% over the past month. This has lagged the Finance sector's loss of 3.89% and the S&P 500's loss of 4.24% in that time.
Wall Street will be looking for positivity from Crown Castle as it approaches its next earnings report date. In that report, analysts expect Crown Castle to post earnings of $1.79 per share. This would mark year-over-year growth of 4.68%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.69 billion, up 13.69% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.39 per share and revenue of $6.89 billion, which would represent changes of +6.33% and +8.64%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Crown Castle. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.1% higher within the past month. Crown Castle is currently a Zacks Rank #3 (Hold).
Digging into valuation, Crown Castle currently has a Forward P/E ratio of 23.44. For comparison, its industry has an average Forward P/E of 14.82, which means Crown Castle is trading at a premium to the group.
It is also worth noting that CCI currently has a PEG ratio of 2.34. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. REIT and Equity Trust - Other stocks are, on average, holding a PEG ratio of 2.66 based on yesterday's closing prices.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 153, putting it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Crown Castle International Corporation (CCI) : Free Stock Analysis Report
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